The last quarter saw Nintendo sell 310,000 units of its latest console, which is a 20 percent drop on how many were sold in the same period 12 months prior. Its failure to sell is causing the company to lose money in both Europe and North America, due to a combination of markdowns and poor software sales.

The company's annual operating loss came in at ¥46.4 billion ($457 million) while the net loss was ¥23.2 billion ($22.8 million).

3DS figures on the other hand are more positive, with the company selling 590,000 in the final quarter of the last financial year, bringing the life-to-date total up to 43.3 million, 2.2 million of which are the cheaper 2DS version. Despite this, sales figures for the handheld still came in below predictions.

In terms of expectations for the future, Nintendo hopes to return to the black with an operating profit of ¥40 billion ($394 million), with 3.6 million Wii U consoles and 12 million 3DS handhelds sold in the next 12 months.

In a statement accompanying the report, Nintendo announced plans to combat the Wii U's troubles with software that takes advantage of its NFC reader, along with the decision to introduce DS titles to the Wii U Virtual Console. It also referenced its longer term "Quality of Life" project that's expected to help the company diversify from games into health - something we've heard about before.

With the release of Mario Kart 8 and Super Smash Bros. on the horizon, Nintendo is surely hoping things turn around. Strong sellers from the last year include Pokemon X & Y, which sold 12.26 million and Luigi's Mansion 2, Mario & Luigi: Dream Team and The Legend of Zelda: A Link Between Worlds all managed to hit the 2 million mark.

Luke Karmali is IGN's UK News Editor. You too can revel in mediocrity by following him on Twitter.

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